Technical Analysis Dabur India Limited.

The stock

is currently trading around 457.60. Looking at the daily chart the stock has been in a broader downtrend over the past year forming a pattern of lower highs. However it recently experienced a sharp recovery after touching a major bottom showing signs of a potential trend reversal. Major Support the stock has formed a very solid support base in this zone. The recent aggressive bounce from the 400-410 level accompanied by volume spikes indicates that strong institutional buyers are stepping in at these discounted prices. Immediate Resistance on the upside the stock will face immediate selling pressure near the 480 to 500 zone. This area previously acted as a consolidation zone and clearing it is crucial for further upward movement. For Short-Term the stock is currently in a recovery phase. Buying on small dips near the 430-440 range with a strict stop-loss below 410 offers a favorable risk-to-reward ratio. For Long-Term the 400-420 zone represents a strong accumulation area for long-term portfolios. However a fresh confirmed bull run will only begin once the stock gives a decisive daily closing above the 500-520 resistance level. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.